Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Vienna’s position on the doorstep of Central and Eastern Europe (CEE) make it the ideal location for international businesses to take advantage of new trading opportunities opening up between the western and eastern Europe.
“Export and foreign trade have always been crucial to Austria, and Vienna is perfectly placed to take advantage of this,” explains Andrew Dickson, International Business Director at Grant Thornton Austria. “It is firmly established as a gateway city and probably has been for more than 400 years, since the time of the Hapsburg empire.
“Around 25% of the population of Vienna actually have a migration background: the vast majority of those are from central and eastern Europe and the Balkans. And the trading links that the city has with other countries have been there for a long time – they are already significant but we see further potential to develop.”
Dickson adds: “Vienna is right on the eastern border of the country, which means that it is on the doorstep of economies like Slovakia, Czech Republic and Hungary. It has access to a market of 300 million people within a five-hour drive – so it is perfectly placed in terms of logistics.”
An ideal place to set up
“Another important factor is that Vienna is a very attractive place both for companies and for individuals to come to,” Christoph Schmidl, Partner at Grant Thornton Austria, points out. “From an individual’s point of view, Vienna is a very safe city to live in and there are a wide range of activities from culture to outdoors activities. A lot of people come here with children and we have an excellent and broad educational system, from schools to universities.”
Indeed, Vienna has been ranked the most liveable city in the world for the 10th year in a row by the Mercer Quality of life survey., a study that takes into account a wide range of economic, environmental, cultural, infrastructure and health factors.
“Meanwhile, from a company perspective, Austria has a high number of double-taxation agreements with other countries,” Schmidl adds. “And we have a regime known as group taxation where we can put the taxable results of a group of companies into a single pot and have taxation only at one level.” This means businesses can include foreign group companies in Austrian taxation – so, for example, if a Viennese business has a subsidiary in Slovakia which is showing a loss, this loss can be used to reduce the corporate income tax burden in Austria. “There are also favourable tax rules for expats,” he says.
While Austria has a strong automotive and manufacturing sector across much of the country, Vienna’s focus is more in sectors such as financial and professional services – especially banking, legal and insurance. “There are over 400 international companies which have their regional or international headquarters in Vienna itself,” Dickson explains. “Samsung, Shell, McDonald’s, HP, Siemens and DHL all have regional headquarters here.”
But Vienna can also boast a thriving startup scene, underpinned by strong research and development incentives from the government as well as the city’s highly skilled workforce. Schmidl says: “We have a very strong biotech sector and software development is getting more and more important. Over the past few years the government has steadily increased R&D grants, so the environment will get even more attractive for companies.”
The Austrian Business Agency can provide assistance and advice to businesses thinking of setting up in Vienna, Dickson says.
Gateway to central and eastern Europe
As a key member of the EU, Austria has unfettered trading access to economies across the continent – and Vienna is the ideal place to take advantage of these opportunities, especially in eastern and central regions.
The city’s attractive business tax regime and high quality of life are two more compelling reasons to come here.
Want to know more?
Vienna’s trading history and excellent business environment make it the ideal gateway for companies looking to expand into central and eastern Europe, as well as other EU member states. To find out more about establishing your business here, contact Andrew Dickson or Christoph Schmidl.
Vienna quick facts
- Location: Eastern Austria
- Time zone: Central European Time GMT +0100
- Population: 2.9 million
- GDP: US$157 billion
- Industrial strengths: Financial and professional services, technology
- Growth sectors: Biotech, fintech, software
- Regional access: Budapest 45 minutes by air; Munich 1 hour; Berlin 1 hour 20 minutes; Rome 1 hour 40 minutes; Paris 1 hour 50 minutes.